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377 Union Street

4643  sq ft

This city centre retail unit located at the west end of Union Street comprises of a ground floor and basement. Situated next door to popular restaurant, Six by Nico, this property will be refurbished by the landlord to white box standard prior to entry. It also benefits from 12-months of business rates relief.

  • Monthly Rent:
    £2,500
  • Monthly Rates:
    £1,567
  • Fresh Start Relief:
    Yes
  • Location:
    West End
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At a glance

Newly refurbished
High street retail property
West End location
Busy footfall area

Incentives

Empty shops grant
12-months rate free

About

This property is the ultimate blank canvas situated in a high-footfall area which has already undergone significant regeneration.

This property comprises the ground floor  (3,409 sq ft) and basement (1,234 sq ft) of a four-storey and basement granite building.

The landlord has invested to return the property to white box standard to attract a new tenant, and would also consider selling the unit for offers in the region of £250,000.

The property benefits from low rent, low business rates, 12-months rate free due to Fresh Start Relief, and is eligible for the Aberdeen City Council's Empty Shops Grant Scheme.

The annual rent on this property is £30,000. ex VAT, which may be applicable. The current annual rateable value is £37,750.

Location

The west end of Union Street is thriving once more thanks to two major Grade A office developments - the Silver Fin and the Capitol.

These offices are home to thousands of workers from companies include Shell, RSM Accountants and PwC.

There are three major car parks within short walking distance, and nearby occupiers include Six by Nico, Pret, Cruise, Pizza Express, Starbucks and Soul Bar. There are also a number of thriving independent retailers in this section of the street.

Additional Notes

If you are a Small to Medium Sized Enterprise (SME) you could also qualify for a Business Energy Scotland cash-back grant of up to £30,000 if you are installing energy efficiency or renewable heat measures.

377 Union Street Retail
Artist impression: Retail (AI generated)
377 Union Street Hospitality
Artist impression: Hospitality (AI generated)

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